Communication Services Select Sector SPDR Fund Sees Unusually Large Options Volume (NYSEARCA:XLC)

Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) was the recipient of some unusual options trading on Friday. Stock investors purchased 46,769 put options on the stock. This represents an increase of approximately 570% compared to the average daily volume of 6,976 put options.

Hedge Funds Weigh In On Communication Services Select Sector SPDR Fund

Several institutional investors have recently bought and sold shares of XLC. Brighton Jones LLC bought a new position in Communication Services Select Sector SPDR Fund in the 4th quarter valued at $250,000. Millennium Management LLC increased its stake in shares of Communication Services Select Sector SPDR Fund by 3.9% in the 1st quarter. Millennium Management LLC now owns 133,607 shares of the company’s stock valued at $12,886,000 after buying an additional 5,011 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of Communication Services Select Sector SPDR Fund in the 2nd quarter valued at $1,105,000. Russell Investments Group Ltd. increased its stake in shares of Communication Services Select Sector SPDR Fund by 54.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,868 shares of the company’s stock valued at $528,000 after buying an additional 1,713 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Communication Services Select Sector SPDR Fund by 63.6% in the 2nd quarter. First Trust Advisors LP now owns 75,557 shares of the company’s stock valued at $8,200,000 after buying an additional 29,364 shares during the period.

Communication Services Select Sector SPDR Fund Stock Down 0.9%

XLC traded down $1.07 during trading on Friday, hitting $112.04. The company’s stock had a trading volume of 3,588,609 shares, compared to its average volume of 6,662,586. The firm’s 50 day moving average price is $114.93 and its two-hundred day moving average price is $115.65. Communication Services Select Sector SPDR Fund has a 12 month low of $101.99 and a 12 month high of $120.40. The stock has a market capitalization of $24.61 billion, a price-to-earnings ratio of 19.19 and a beta of 0.97.

About Communication Services Select Sector SPDR Fund

The Communication Services Select Sector SPDR Fund (XLC) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of US telecommunication and media & entertainment components of the S&P 500 index. XLC was launched on Jun 18, 2018 and is managed by State Street.